No longer on the market
This property is no longer on the market
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MapRetail property (high street)
Auction
Retail property (high street)
Features and description
- Tenure: Leasehold
- A Freehold Corner Building Arranged as a Ground Floor Commercial Unit Producing £12,500 Per Annum and Three Flats Above (All Sold Off Producing a Combined Ground Rent of £750 Per...
Sold for £127,000.Guide Price = £110,000+
*For Sale By Online PublicAuction 25th October 2023 08:45 AM. To inspect the legal documents for this property go to our website to download the legal pack*
A Freehold Corner Building Arranged as a Ground Floor Commercial Unit Producing £12,500 Per Annum and Three Flats Above (All Sold Off Producing a Combined Ground Rent of £750 Per Annum). Therefore Producing a Combined Income of £13,250 Per Annum
Tenure
Freehold
Location
The property is situated on a residential road close to local shops and amenities. The open spaces of John Burrows Play Ground are within easy reach. Transport links are provided by Leigh-on-Sea rail station.
Description
The property comprises a corner building arranged as a ground floor retail unit and three flats.
Accommodation
Ground Floor
Retail Unit
First Floor
Three Flats (All Sold Off)
Accommodation
Tenancy
The property is subject to a lease for a term of 15 years commencing 8th June 2023 at a rent of £12,500 per annum. Rent reviews every 5 years. All 3 flats are subject to 125 year leases from 29th September 2016 at a ground rent of £250 per annum each. Therefore total rent received is £13,250 per annum.
Note
The vendors have advised us that one of the leaseholders are currently improving the property by carrying out external redecoration at their own cost.
Note
EPC Rating
C
Open during normal business hours
Addendum
The property is being sold with the benefit of the freehold, not leasehold as previously stated.
*For Sale By Online PublicAuction 25th October 2023 08:45 AM. To inspect the legal documents for this property go to our website to download the legal pack*
A Freehold Corner Building Arranged as a Ground Floor Commercial Unit Producing £12,500 Per Annum and Three Flats Above (All Sold Off Producing a Combined Ground Rent of £750 Per Annum). Therefore Producing a Combined Income of £13,250 Per Annum
Tenure
Freehold
Location
The property is situated on a residential road close to local shops and amenities. The open spaces of John Burrows Play Ground are within easy reach. Transport links are provided by Leigh-on-Sea rail station.
Description
The property comprises a corner building arranged as a ground floor retail unit and three flats.
Accommodation
Ground Floor
Retail Unit
First Floor
Three Flats (All Sold Off)
Accommodation
Tenancy
The property is subject to a lease for a term of 15 years commencing 8th June 2023 at a rent of £12,500 per annum. Rent reviews every 5 years. All 3 flats are subject to 125 year leases from 29th September 2016 at a ground rent of £250 per annum each. Therefore total rent received is £13,250 per annum.
Note
The vendors have advised us that one of the leaseholders are currently improving the property by carrying out external redecoration at their own cost.
Note
EPC Rating
C
Open during normal business hours
Addendum
The property is being sold with the benefit of the freehold, not leasehold as previously stated.
About this agent
Auction House London is the largest branch of the Auction House UK brand. Auction House holds more auctions annually than any other firm of auctioneers in the UK and sold 4,957 properties throughout 2018 – over 1,000 properties more than our closest rivals. Co-founded by Andrew Binstock and Jamie Royston in 2011, Auction House London has grown year on year in its relatively short history to become one of the top 5 residential property auctioneers in the UK. We adopt a modern and dynamic approach to offering high quality auction facilities to both corporate and independent sellers and buyers. We firmly believe in the importance of extensive online marketing campaigns in addition to the traditional offline methods. Our forward thinking approach to auctions has been regularly applauded and we are very proud to be recognised as offering extremely high levels of customer service to all of our clients. With a proven track record in residential and commercial investments and property auctions, the team offers a fresh and energetic approach to their auctions, providing a quality service that achieves the right results for all parties.
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